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BTEC Business level 3- UNIT 7 STATEMENT OF COMPREHENSIVE INCOME comprehensive Questions and Answers with Verified Solutions

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BTEC Business level 3- UNIT 7 STATEMENT OF COMPREHENSIVE INCOME comprehensive Questions and Answers with Verified Solutions

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BTEC Business level 3- UNIT 7
STATEMENT OF COMPREHENSIVE
INCOME comprehensive Questions and
Answers with Verified Solutions
Question 1:
What is a statement of comprehensive income?

Answer:
It is a report which records sales, profits, expenses and how much profit
and loss a business has made.


Question 2:
Sales Revenue Formula

Answer:
Quality sold x Selling price


Question 3:
Gross Profit formula
Answer:
Sales revenue - cost of sales


Question 4:
Cost of goods sold

Answer:
the total cost of merchandise sold during the period

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